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There's no reputable lender here that asks 50% more of the collateral Obviously there is a bad intention on his side, even if he tries to defend his business he is already exposed, he failed to do research on how lending is done in this forum, he just set up his own terms and rules that is unfair for members here.
Those who want to set up a lending business here, have to do research on how lending works here, establish their reputation, and above all be fair to those who want to take a loan, OP's business is worse than a loan shark.
He actually did not do his homework on how lending works. He thought he would convince the borrower with such bad rules to send him collateral! This Newbie is another example of how they make new moves using different techniques. If a user has a good enough reputation in this forum, then there is no need to take a loan with such collateral, it is not a good business model at all and it is very bad for the borrower. So I think this user has already learned that everything is not so simple.